PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

600053

Primary Business Area

Access To Finance

Disclosure Date

Feb 2, 2014

Country

Eastern Africa Region

Region

Africa

IFC Approval Date

Sep 5, 2013

Status

Completed

Estimated Total Budget

$1,750,000.00
(Project budget includes all project-funded activities)

Last Updated Date

Jan 31, 2019

Project Estimated End Date

Sep 30, 2015

Project Description

Bond Market Development in East Africa Securities markets greatly contribute to mobilizing domestic savings for investment in a variety of key sectors, such as housing, infrastructure and SMEs. These help create jobs and support economic development. However, the securities markets in East Africa are still at a nascent stage. Equity markets are small with few listed securities and low liquidity, while bond markets are generally characterized by limited benchmarks for pricing securities, low liquidity, rigid regulatory frameworks and inefficient infrastructure. The objective of this project is to support development of a regional capital market in East Africa, which will facilitate more financing for sectors where long-term local currency funds are necessary such as housing and infrastructure. The project will focus on supporting development of bond markets at regional and national levels, and work with securities regulators, issuers, individual exchanges, and regional institutions to improve: bond issuance processes; secondary market structure for trading bonds; government bond market development strategy; professional investor base and investment guidelines.

Development Results

E&S Risks / Impacts and Mitigation